The Algeria Tire Market is expecting around 6% CAGR during 2022-27, cites MarkNtel Advisors in their recent research report. The increasing number of infrastructural & development projects across Algeria due to the growing government focus on economic diversification is propelling the need for various commercial vehicles & equipment and, in turn, augmenting the demand for robust tires to ensure utmost vehicle safety & performance efficiency.
Algeria, the second-largest automotive sector throughout Africa, is playing a prominent role in expanding the tire industry, with favorable government policies for attracting foreign brands to establish tire production units within the country.
It, in turn, is generating lucrative opportunities for the leading players to expand their production, import, & distribution capacities to meet the burgeoning end-user requirements for tires in the country and fuel the overall market growth through 2027, further states the research report, “Algeria Tire Market Analysis, 2022.”
Mounting Prevalence of Chinese Tires in Thailand to Boost the Aftermarket Tire Industry
Aftermarket tires are anticipated to dominate the Algeria Tire Market with the largest share during 2022-27, owing to the growing imports of tires from China, Germany, and Japan, among others, i.e., demonstrating an easy availability of an extensive range of tires in the country.
Moreover, the rising consumer awareness about the importance of timely tire repairs & replacements to ensure safety & enhanced driving experience is another reason behind the mounting demand for easily & extensively available aftermarket tires. Hence, the rising aftermarket sales are fueling the overall growth of the tire industry in Algeria.
The leading companies in the Algeria Tire Market include Continental, Bridgestone, Pirelli, Yokohama, Double Coin, Triangle Tire, Toyo, Hangzhou Zhongce, Shandong Linglong, and Qingdao Doublestar Rubber.
Key Questions Answered in the Research Report